Turners Auctions, the country's biggest auction house, boosted annual profit 14 percent as it lifted car sales. The company says it is holding off making a special return while it looks at "growth opportunities".

Net profit rose to an expected $4.2 million, or 15.4 cents per share, in the 12 months ended December 31, from $3.7 million, or 13.5 cents, a year earlier, the Auckland-based company says in a statement.

Sales rose 3.7 percent to $78.2 million, with a 2 percent gain in used car sales to 928,595.

The company's board declared a fully-imputed final dividend of 8 cents per share, up from 6 cents a year earlier, and taking the total payment to 15 cents, but won't pay a special dividend like last year.

The shares were unchanged at $2.11 and have rallied 14 percent this year.

"The directors have elected not to declare a special dividend this year because the group is currently considering a number of growth opportunities which may require investment," the company says.

Turners held $13.9 million in cash and equivalents as at December 31.

The auction house upgraded its forecast earnings in January after reporting a 19 percent lift in first-half profit as Christchurch trading conditions returned to normal.

The company says it is "cautiously optimistic" for a further recovery in the domestic economy, and sees a pick-up in imported car sales as the kiwi dollar remains strong.